Asking $59,995
Est. Repair $40,000*
Est. Repaired Value $150,000 **
Potential Gross Profit >>>>$50,000<<<
Two bedroom cottage, needs TLC, but has great potential. Great weekend getaway from the city and place of residence. Close to the lake . You can enjoy the country lifestyle; fishing, hiking, swimming and boating. Taxes for this property are $3,698 per year and can approximately rent between $1,400 – $1,500 per year.
Gross Income – $16,800
Taxes – $3,698
Insurance – $700
5% Vacancy – $840
Net Income – $11,562
ROI – 16.51% (this return on investment includes acquisition + $20k of rehab)
COMPS:
19 Magnolia Rd. (3 bed 2 bath 1224 SQFT., Sold 9/15/17 for $149,900)
51 Landing Rd. (1 bed 1 bath 580 SQFT., Sold 4/13/17 for $195,000)
210 Lake Shore Dr. (1 bed 1 bath 562 SQFT., Sold 7/17/17 for $139,000)
9 Freehold Ct. (3 bed 1 bath 1157 SQFT., Sold 3/21/17 for $192,000)
9 Witte Rd. (2 bed 2 bath 925 SQFT., Sold 8/30/17 for $180,000)
CALL OR TEXT John Jaramillo FOR MORE INFO AT 732-630-2627
IF YOU NEED FUNDING TO PURCHASE THIS PROPERTY OR ANY OF OUR PROPERTIES, PLEASE GIVE US A CALL AND WE CAN PUT YOU IN TOUCH WITH ONE OF OUR AFFILIATE LENDERS.
SERIOUS BUYERS ONLY PLEASE. Buyer must be purchasing with cash, hard or private money, or line of credit and able to close within (10) days or less. 10% Non-Refundable deposit due within 48 hrs of acceptance. Property being sold “as is”, any and all inspections and certifications, including Certificate of Occupancy will be Buyer’s responsibility. Free and clear title, quick closing offered.
TO MAKE AN OFFER CALL John at 732-630-2627. All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. The buyer is responsible at their sole cost and expense to obtain all required permits, approvals, and certificates, including but not limited to the certificate of occupancy and smoke detector certification.
*Estimate repairs are only an estimate, all buyers are encouraged to visit the property with contractor and gather an estimate.
**After Repair Value is an estimate of what the property can be resold after repairs have been completed. All buyers should perform their own due-diligence.
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